What happened or is happening to the “Stimulus” funds?

The Government Accountability Office (GAO) has issued reports regarding the distribution of the stimulus funds.  In its most recent report & committe hearing here is what the GAO has found:

Only $173 billion (22%) of the stimulus dollars has been distributed into the economy (look for the bulk of the funds to be distributed during election years).

Those who receive “stimulus” funds are responsible for completing reports showing how those funds saved or created jobs.  A few examples of the problems with the reporting showed that: 1) 3,978 reports showed no monies received or expended but included more than 50,000 jobs created or retained; 2) 9,247 reports showed not jobs but included expended amounts approaching $1 billion; and 3) discrepancies between award amounts and the amounts reported as received, although few in number, indicate problems with the reporting.

The GAO is responsible for bimonthly reviews that focus on the 16 states & DC  (the “states”) with 65% of the US population and are slated to receive 2/3 of the stimulus funding.  According to the April 2009 GAO report, $280 billion of the $787 billion in stimulus funds will be distributed to the states.  Of the $280 billion, $49 billion is slated for transportation, health and education.

The July 2009 GAO report found that $29 billion of the $49 billion was distributed to the states.  63% of the $29 billion was for Medicaid.

The September 2009 report shows that $48 billion of the $49 billion was distributed to the states.  Again, over 60% of those funds were spent on Medicaid.

Makes me feel as if the “Recovery” Act was merely a ploy to push government healthcare.

According to the GAO website, so far, $63 billion has been sent to the states & $47 billion has been accounted for through nonfederal recipients.  The question is where is the remaining $63 billion of the $173 billion that has been distributed?

~ by hunter7taylor on November 19, 2009.

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